DWS GmbH : Acquires Winter Garden Village for $165 Million

About this update from Dws Group Gmbh & Co. Kgaa

NEW YORK, NY - DWS is pleased to announce the acquisition of Winter Garden Village, a 629,326 square foot outdoor shopping center located in Winter Garden, Florida - Orlando MSA (Metropolitan Statistical Area), for $165 million. This acquisition aligns well with our retail strategy to invest in well-established properties in affluent trade areas supported by continued population growth. The property benefits from a limited retail construction pipeline within the trade area and holds a market-dominant position on the west side of the Orlando MSA. Winter Garden Village has numerous competitive advantages, including the strength of its trade area, strong access, and lack of direct competition. The property is an established shopping destination for some of the wealthiest neighborhoods in Orlando, including Windemere, Lake Butler, and Bay Hill, which are all within a 15-minute drive of the center. The area has a population of 130,000 residents within a 5-mile radius and is directly accessible off an interchange to Florida State Road 429. Finally, the property benefits from a lack of competitive power and lifestyle centers that serve the west side of the Orlando MSA. The property has averaged 98% occupancy across all-time series (1-, 5-, 10-year) and since its completion in 2008. The property has 39 tenants, including numerous, well-performing national stores, including Best Buy, Marshalls, Old Navy, ULTA, Nike, and J. Crew. Winter Garden Village has seen the strength of its location and trade area drive strong historical tenant sales performance, positioning the property for continued rent growth over the coming years. Learn more about DWS Real Estate (For institutional investors only): https://www.dws.com/en-us/capabilities/alternatives/real-estate/

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